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Churchill Downs Inc. Announces Agreement To Acquire Preakness Intellectual Property Rights
Churchill Downs Incorporated has agreed to acquire the intellectual property rights of the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85 million. This acquisition, which includes all trademarks, aims to integrate a major American sports brand into CDI’s portfolio, supporting the long-term growth of Thoroughbred racing and specifically a redeveloped Pimlico and Preakness Stakes. The transaction is expected to close after the 2026 Preakness Stakes.